1 April 2026 Rule Changes: The new financial year is starting from 1 April 2026. Many rules related to HRA, STT, PAN card are going to change.
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April 1, 2026 Rule Changes: The new financial year begins on April 1, 2026. With the start of the new financial year, many rules will change. These rules will directly impact our lives. From HRA to PAN cards to tax-related rules, many are set to change.
1- The Income Tax Act 2025 is being implemented.
The new Income Tax Act 2025 is being implemented with the aim of simplifying decades-old tax rules. The new law removes several unnecessary sections and simplifies others.
2- Now just the tax year.
The financial year and assessment year will now be called the tax year. This move is being made to eliminate confusion in the minds of taxpayers.
3- ITR Deadline
The deadline for salaried employees (ITR-1 and ITR-2) remains July 31st.
The deadline for non-audit cases (ITR-3 and ITR-4) has been extended to August 31st.
4- Futures and Options Traders Will Have to Incur More Expenses
There has been a major change in the Securities Transaction Tax (STT). As a result, F&O investors will now have to pay higher fees. The STT has been increased from 0.12 percent to 0.15 percent.
5- Tightening of HRA Rules
The new rules will continue to provide HRA exemptions, but additional documents will be required. Employees will now be required to submit their landlord’s PAN card and valid proof of rent payment.
6- Meal Card Limit Increased
The tax-free limit for employer-provided meal cards has been increased from ₹50 to ₹200. This benefit will be available to employees under the old tax regime.
7- Gifts and Vouchers Up to ₹15,000 Can Be Received
Effective April 1, 2026, the limit for corporate gift cards, vouchers, and coupons has been increased from ₹5,000 to ₹15,000. This exemption will be available under both the old and new tax regimes.
8- Education Allowance Limit Increased
The new rules increase the education allowance limit from ₹100 to ₹3,000 per month. The hostel allowance has been increased from ₹300 to ₹9,000 per month.
9- Sovereign Gold Bonds
If an individual purchases Sovereign Gold Bonds from the secondary market, they will be subject to capital gains tax. If these bonds were purchased during the issue period, they will continue to be exempt.
10- Changes in PAN Card Rules
There is a major change in the rules for obtaining PAN cards. Previously, PAN cards could only be obtained using Aadhaar. Individuals or organizations will now be required to obtain PAN cards in their respective categories.
A PAN card will be required if you deposit cash of ₹10 lakh or more in a financial year.
11- Accidental Cases Now Tax-Free
No TDS will be deducted on compensation received from the Motor Accident Claims Tribunal. These will now be completely tax-free.
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